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Holiday rentals predicted to continue boom in 2015

Published on 04/21/2015

Holiday rentals predicted to continue boom in 2015: new figures show continued growth in buy to let property market

Holiday rentals predicted to continue boom in 2015

With the property purchase figures now being released for 2014, insiders are predicting a continued boom in buy to let investment in 2015, leading to an associated increase in holiday rentals during the same period. With canny investors taking their lead from a strong stock market performance, National Association of Realtors’ chief economist, Lawrence Yun, has noted the increased confidence amongst buyers.

Buy to let investment opportunities

According to the latest data, properties located on or near the beach made up 54-per-cent of vacation home purchases, with 21-per-cent of all property purchases in 2014 designated as holiday homes. According to the NAR report, this was a 57-per-cent increase on 2013 and was the highest level since 2003. The survey was conducted amongst nearly 2000 buyers and did not include institutional investment sales. Yun noted that buyers were looking at long-term opportunities, often able to grab “low bargain prices”.

Property as a secondary source of income

Yun also pointed out that the buyer’s demographic in 2014 was quite specific, with “baby boomers on the cusp of retirement” having a significant impact on the surge, with nearly 20-per-cent of those surveyed stating that they intended to eventually make their vacation home their primary residence. Indeed, by utilising their holiday homes as a secondary source of income until this point, many buyers offset a number of the costs inherent in owning more than one property.

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